Elon Musk’s First Boring Tunnel Could Open in Las Vegas This Year – The Motley Fool

Elon Musk’s First Boring Tunnel Could Open in Las Vegas This Year – The Motley Fool

Elon Musk
When will Elon Musk's Boring Company build its first working, commercial-scale "Loop" subway tunnel, and morph from a billionaire's science project into something more resembling a real-world business?We used to think Boring's first success would come in Chicago. Indeed, back in June 2018, that city awarded Boring a contract to build a "Loop" subway system connecting Chicago O'Hare Airport to the city's downtown Loop district, with an expected time to completion of just 18 months. 18 months and one Chicago mayoral election later, however, and the Chicago "Loop" no longer looks like such a sure thing.  Now it appears that Boring's first commercial success will arrive a bit south and west of the Windy City ... in Las Vegas, to be precise. Image source: Getty Images. Details to come We know this thanks to The Boring Company itself, which last week announced that "the Las Vegas Convention and Visitors Authority (LVCVA) Board of Directors approved a contract with The Boring Company to design and construct a twin-tunnel Loop system for the Las Vegas Convention Center (LVCC)" -- which Loop system is now already under construction. This isn't a huge project, mind you. Running the length of the 200-acre ....

In Las Vegas, Boring is expecting to collect actual revenue for its work -- perhaps as much as $53 million -- in Boring's "first commercial endeavor." This, too, is a departure from the terms of the Chicago Loop project, which had proposed having Boring build the tunnel on its own dime, and collect its profits from operating the travel system on a concession basis. In Las Vegas, LVCC plans to operate its Loop free of charge. What it means for The Boring Company Not to put too fine a point on it, but for The Boring Company to become a viable business (much less a future candidate for IPO), the company needs customers -- and revenue. In Las Vegas, Boring finally appears to have found both. While it remains true that to date, neither Musk nor Boring have expressed any clear desire to "go public, " evolving from a clever concept into a revenue-generating business would seem to, at the very least, make this a realistic possibility at some point in the future. What it means for Tesla And what about Tesla (NASDAQ:TSLA), the Elon Musk company that has gone public and the one that investors can invest in today? ....

Leave a Reply

* Copy This Password *

* Type Or Paste Password Here *